Govt eyeing ComCom bank interchange fees decision

A decision on the regulation of bank interchange fees is beleived to be imminent. (Image: Getty)

Fri, 11 Apr 2025

The Government is closely watching for the Commerce Commission’s decision on regulation of bank interchange fees that credit card companies, banks and fintecs fear will stifle banking competition, recently appointed Minister of Commerce Scott Simpson says.In an interview with BusinessDesk, Simpson made clear there was no capacity for intervention before the commission’s decision, believed to be imminent. However, he was highly focused on the need for the fees not to be set so low that they discouraged the development of open ba...

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